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2025-09-12 16:21:46
European natural gas prices fell slightly due to increased wind power and LNG supply. ⑴ The front-month contract on the Dutch TTF hub, TRNLTTFMc1, fell €0.33 to €32.05/MWh, while the November contract, TRNLTTFMc2, fell €0.23 to €32.94/MWh. UK weekend gas prices fell 0.50 pence to 78.50 pence per thermal unit. ⑵ LSEG data shows that wind power output in Northwest Europe is expected to increase by approximately 60% on Monday compared to today, reducing natural gas demand for power plants. Norway's export nomination fell by 6 million cubic meters to 217 million cubic meters per day, while supplies to mainland Europe fell by 8 million cubic meters to 166 million cubic meters per day. ⑶ LNG exports from Northwest Europe are expected to increase by 151 GWh to 2,079 GWh per day on the same day due to increased outflows from the Zeebrugge terminal. Twenty ships are scheduled to arrive in the next two weeks, with three additional ships. Energy Aspects is slightly bearish on the TTF Winter 25 contract, believing that continued Russian Arctic LNG 2 exports pose downside risks. EU Energy Commissioner Jorgensen reiterated his commitment to halting imports of Russian oil and gas by 2028, and the EU is drafting its 19th round of sanctions against Russia. The carbon market benchmark contract CFI2Zc1 fell €0.37 to €75.17/ton.
